The Basketball Merchandise Market in Ethiopia is facing slow growth due to low interest in investing in the sport. Despite being an emerging market in the Sports industry, the lack of resources and infrastructure has hindered its potential growth rate. However, with increased interest and investment in the sport, it has the potential to experience significant growth in the future.
Customer preferences: With an increasing interest in health and wellness, consumers in Ethiopia are turning to basketball as not just a sport, but also a means to lead a healthy lifestyle. This has resulted in a rise in demand for basketball merchandise such as performance clothing, footwear, and accessories. There is also a growing preference for eco-friendly and sustainable products, reflecting changing attitudes towards environmental sustainability. Additionally, the influence of social media platforms has led to a rise in product collaborations, providing consumers with a variety of options to choose from.
Trends in the market: In Ethiopia, the Basketball Merchandise Market is experiencing a significant uptick as the sport gains popularity among youth and young adults. This trend is mirrored globally, with the Basketball Market within the Sports Market seeing a surge in demand for licensed merchandise and team apparel. Moreover, with advancements in digital marketing and e-commerce, there has been a shift towards online shopping for basketball merchandise. This trend is expected to continue over the coming years, particularly in emerging markets such as Ethiopia, creating new opportunities for industry stakeholders to expand their reach and cater to a wider audience.
Local special circumstances: In Ethiopia, the Basketball Merchandise Market is heavily influenced by the countrys growing interest in basketball as a sport. With the establishment of the Ethiopian Basketball Federation and the success of the national basketball team, there has been an increase in demand for basketball-related products. Additionally, the culture and traditions of Ethiopia also play a role in shaping the market, with unique designs and patterns incorporated into merchandise. Furthermore, there are strict regulations on the import of goods, impacting the availability and pricing of international basketball merchandise in the market.
Underlying macroeconomic factors:
The growth of the Basketball Merchandise Market within the Sports Market is influenced by macroeconomic factors such as overall economic conditions, consumer spending, and government policies. In countries with a strong economy and higher levels of consumer disposable income, there is a higher demand for basketball merchandise and related products. Additionally, favorable government policies and trade agreements can also impact the market positively by reducing barriers to trade and lowering import taxes. On the other hand, economic recessions, high inflation rates, and political instability can negatively affect market growth by decreasing consumer confidence and leading to lower spending on non-essential goods. Thus, it is important to closely monitor macroeconomic indicators and their potential impact on the basketball merchandise market in Ethiopia.
Data coverage:
The data encompasses B2C revenues. Figures are based on merchandise spending. All monetary figures refer to consumer spending on goods in the respective segment, which can be online and offline.Modeling approach / Market size:
Market sizes are determined through a combination of bottom-up and top-down approaches, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per ticket, price on sport goods). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, number of internet users, and internet consumption. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function or linear forecasting, as it fits the development of either strong growing markets or more sophistacted and saturated markets, such as soccer in Europe.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). We also account for the different cycles of international tournaments, such as world cups or continent cups. Consumer Insights data is reweighted for representativeness.
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